Sentences with phrase «by deceased borrowers»

Consumer advocates are concerned that the FTC proposal does not provide for legal action or other sanctions against debt collectors that «step over the line» in attempting to collect debts incurred by deceased borrowers.

A reverse mortgage can not be assumed by a deceased borrower's heirs.

Not exact matches

Debt collectors have harassed bereaved families by sending collection notices indicating that the surviving family or executor «must» pay the deceased borrowers credit card bills and other debts.

The Wall Street Journal is reporting that new Federal Trade Commission (FTC) proposals addressing debt collectors attempting to collect on debts of deceased borrowers may backfire by allowing debt collection agencies to pursue surviving relatives and associates of deceased debtors.

conducted research on deceased borrowers and heirs using Westlaw and local county online services prepared contact letter to heirs drafted correspondence and pleadings for creditor's administration and requests to the underwriter to insure around deceased borrower coordinated with attorneys, dependent administrators and local counsels with hearings updated to clients with status of loans handled by the firm performed title reviews and determine if title claims are needed for prior liens, missing conveyances, legal discrepancies referral administrator.

In many cases, the borrowers have not consulted an attorney and the title remains vested or owned by both the borrower and the deceased spouse.

In many cases the borrower and deceased spouse held the property as «Tenants by the Entireties» meaning between husband and wife and therefore the survivor of them would gain full rights and ownership to the property.